Cardamom futures extend losses, plunge 2.19 pc on muted demand

New Delhi: Continuing its falling streak for the third day, cardamom prices tumbled by 2.19 per cent to Rs 1,391.10 per kg in futures trade today as speculators engaged in trimming their positions, tracking a weak trend at spot market on tepid domestic as well as export demand.

In addition, ample stocks position on sufficient supplies from producing regions too fuelled the downtrend.

At the Multi Commodity Exchange, cardamom for delivery in far-month January was down by Rs 31.10, or 2.19 per cent to Rs 1,391.10 per kg in a business turnover of 54 lots.

On similar lines, the spice for December traded lower by Rs 23.90, or 1.76 per cent to Rs 1,335 per kg in 80 lots.

Analysts said, offloading of positions by traders on the back of muted domestic as well as exports demand in the spot market against ample stocks position, kept cardamom prices lower at futures trade.